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June 18, 2014
16:50 EDTEEP, ENBEnbridge, Enbridge Energy estimate cost for L3R program about $7.5B
Enbridge (ENB) and Enbridge Energy Partners, L.P. (EEP) announced the final scope and cost estimate for their Line 3 Replacement Program is approximately $7.5B. The L3R Program was announced on March 3, following receipt of shipper support, and involves replacement of all segments of Line 3 between Hardisty, Alberta and Superior, Wisconsin with new pipe using the latest available high-strength steel and coating technology. The agreement between Enbridge and its mainline shippers includes an international joint tariff surcharge to provide return on and of the capital investment. The IJT surcharge will be adjusted to reflect 75% of the increase in the incremental investment required. Substantially all of the increase in the final estimate applies to the Canadian portion of the L3R Program, estimated to cost approximately CDN$4.9B. The U.S. portion of the program is estimated to cost approximately US$2.6B. The U.S. program will be funded jointly by Enbridge and EEP at participation levels to be finalized and approved by a special committee of the Board of Directors of EEP.
News For ENB;EEP From The Last 14 Days
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February 25, 2015
17:29 EDTEEPEnbridge Energy files automatic mixed securities shelf
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February 19, 2015
16:29 EDTENBEnbridge sees 2015 EPS C$2.05-C$2.35, consensus $2.27
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16:29 EDTENBEnbridge reports Q4 EPS C$0.49, consensus 52c
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February 18, 2015
12:48 EDTEEPEnbridge Energy sees FY15 adjusted EBITDA of $1.68B-$1.78B
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12:45 EDTEEPEnbridge Energy reports Q4 EPS 51c, may not compare to consensus 28c
Reports Q4 operating revenue $2.07B, consensus $1.75B.

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